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A: simple interest is interest calculated on the principal amount that means he only gain interest on…
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Q: the amount you need to save each month
A: given fv=25000 n= 5*12=60 interest i = 3.5% PMT =?
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A: Given information: Present value or principal value is $10,000 Number of years of loan is 3 Interest…
Q: When you start your career, you decide to set aside $600 every month to deposit into an investment…
A: GIVEN, R=11% A=$600 N=25 M = 12 (MONTHLY COMPOUNDING)
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A: Interest is an amount which is received on the deposited amount for the period. It increases the…
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A: Ordinary annuity are the PMTs which are made at the end of the period.
Q: Suppose you want to have $800,000 for retirement in 25 years. Your account earns 7% interest…
A: Future Value = $800,000 Time period = 25 years Interest rate = 7%
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A: Given that;Periodic withdrawal amount is $8500Interest rate is 2.9% per year
Q: suppose you start saving today for a 40000 down payment that you plan to make on a house in 8 years.…
A: Present Value is the current value of all the cash flows which is to be received in the future which…
Q: You deposit $1,800 into a 9% account today. At the end of two years, you will deposit another…
A: Deposit now = $ 1800 Interest rate = 9% Deposit 2 years from now = $ 3000 Purchase 5 years from now…
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A: An effective annual rate (EAR) is the actual rate of interest to be paid annually after taking…
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A: a) Hence, the amount in the account at the beginning is $490,907.37 b) Hence, the total money pull…
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A: Information Provided: Yearly annual income = $15,000 Interest rate = 4% NOTE: As per our…
Q: An investor requires an annual (year-end) income of $15,000 in perpetuity. Assuming a fixed rate of…
A: Information Provided: Annual income = $15,000 Interest rate = 4% NOTE: As per our policy, we…
Q: The Bells are saving up to go on a family vacation in s years. They invest $2300 into an account…
A: The future value of money is the amount of the initial deposit made plus the interest accumulated on…
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Q: account with an interest rate of 7.5% per year compounded monthly. You want to withdraw all your…
A: interest rate =7.5% monthly interest =7.5/12=0.625 Future value =Present value (1+i)n
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A: Here, Annual withdrawal is $10,000 Time Period of Withdrawal is 4 years Interest Rate is 6%
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A: The concept of the time value of money states that the current worth of money is more than its value…
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Q: You want to be able to withdraw $5000 from an account at the end of each year for the next 12 years.…
A: Information Provided: Payment = $5000 Term = 12 years Interest rate = 5.5% compounded annually
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A: Since you have asked a question with multiple parts, we will solve the first 3 parts for you. Please…
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A: Future Value :— It is the value of present cash flow in future. Future Value = Present Value ×…
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A: Monthly interest = APR /Number of months Monthly interest = 9%/12 Monthly interest = 0.75%
Q: 0. You expect to earn 12% annually on the account. How many years will it take you to reach your goa
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A: Retirement planning involves the set of activities that determines the income goals that an…
Q: money is in your account after 16 months?
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A: The number of years required to accomplish the goal can be find out by using the future value of…
Q: Suppose an investment will pay $7,000 in 44 years from now. If you can earn 6.15% interest…
A: Formulas: Present value = Future value / (1+rate)^years
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A: Answer b) Total amount put by us in account: = Amount monthly invested * 12 * number of years =…
Q: You would like to put some money into an account so that you will have $6000 in the account 13 years…
A: Present Value can be calculated using PV function in excel PV (rate, nper, pmt, [Fv], [type])…
Q: ill need $15,000 annually for 4 years to complete your education. (One year from today you will…
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A: Given: Interest rate = 7% = 0.07 Future value (FV) = $10000
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A: Amount required $3,000,000 Time is 40 years Interest rate is 8%
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A: A theory that helps to compute the present or future value of the cash flows is term as the TVM…
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A: It can be calculated using PMT function in excel. PMT(rate, nper, pv, [fv], [type]) Rate The…
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A: Workings: Amount…
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A: Part A-C:Calculation of Amount in the Account, Total Money in the Account and Total Interest:A) The…
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A: The future value is the amount that will be received at the end of a certain period. In simple…
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A: Given information: Purchase price = $33,000 Loan = $33,000 -20%×$33,000 = $26,400 Term = 5 years…
In order to make a $6500 purchase in 14 years, you decide to invest some money in an account that pays 4.7% interest per year, compounded annually. How much should you invest now to have enough for your purchase?
Round to 2 decimal places. Do NOT use the dollar sign in the answer box.
You should invest $ Blank 1. Calculate the answer by read surrounding text.
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- You would like to put some money into an account so that you will have $6000 in the account 13 years from now. If the account earns 3.5% interest per year, compounded quarterly, how much should you invest now in order to reach your goal? Give the answer correctly to 2 decimal places. dollars Do NOT use the dollar sign in the answer box. nsYou invested some money 15 months ago at 8 % annual simple interest. Your investment is now worth $1210. How much money did you originally invest? Give the answer to 2 decimal places, and do not use the $ sign in the answer box. Blank 1. Calculate the answer by read surrounding text. dollarsYou plan to spend $400 to buy a new IPAD at the beginning of year3 and $1,000 to buy a new phone at the End of year 6. By using excel, please calculate how much you need to save in each year? Suppose you deposit in the beginning of each year. Suppose your last deposit is at the beginning of year 6. Interest rate is 8%. Answers should be rounded to the 2nd decimal place.
- If you want to have $23,000 for a down payment for a house in six years, what amount would you need to deposit today? Assume that your money will earn 3 percent. Use the TVM keys on your calculator ... NOT the tables in the book Enter your answer as a negative value in the form: -$nn,nnn.nn Numeric Response 19,262.13 XPlease provide the steps to solving this problem using a financial calculator: You just opened a brokerage account, depositing $3,500. You expect the account to earn an interest rate of 9.652%. You also plan on depositing $4,500 at the end of years 5 through 10. What will be the value of the account at the end of 20 years, assuming you earn your expected rate of return?Please indicate what you entered into your calculator to solve these problems. 1. You graduated with $28,000 in school loans. You will make annual payments of $4,000 at the beginning of each year for the next 10 years. What annual rate of interest are you being charged on your school loans? 2. You bought equipment for $23,000 and agreed to make monthly payments at the end of each quarter for 5 years. Assuming you are being charged 9% interest compounded QUARTERLY, how much will your QUARTERLY payments be? 3. You currently have $750,000 in your building fund. If you start depositing an additional $20,000 per year into this account at the beginning of each year, how much will be in the account after 6 years assuming 5.5% interest compounded annually? 4. You want to start saving for a new car and have decided to put S$90 per month at the beginning of each month into an account which earns 6% compounded monthly. You would like to be able to buy a car for $25,000. (a) How many deposits will…
- You plan to deposit $700 in a bank account now and $200 at the end of one year. If the account earns 3% interest per year, what will the balance be in the account right after you make the second deposit? There will be $ in the account right after the second deposit. (Type an integer or a decimal.) w an example .... Get more help. Save Clear all InSuppose that a car that you want costs $9000. You make a down payment of $1000 and finance the rest for 4 years at 1.9% interest, compounded monthly. If you make monthly payments for 4 years, what is the total amount of interest that you'll end up paying? Round your answer to two decimal places if rounding is necessary. The $ sign is already written next to the answer box, so do not type a $ sign in your answer.Suppose you want to have $600,000 for retirement in 25 years. Your account earns 4% interest. How muc would you need to deposit in the account each month? Submit Question /course/showcalendar.php?cid=179278 Search
- You are saving for a new car. You place $14,200 into an investment account today. How much will you have after four years if the account earns (a) 4%, (b) 6%, or (c) 8% compounded annually? Note: Use tables, Excel, or a financial calculator. Round your answers to 2 decimal places. (FV of $1, PV of $1, FVA of $1, and PVA of $1)With a goal of purchasing one of the coveted trips to space offered by Pharoah, you deposit $53,000 in an account today that earns 11% compounded annually. You estimate the price tag for a trip to space to be $226,000. Using the NPER function in Excel or a financial calculator, determine how long it will take you to accumulate enough money to purchase a ticket. (Do not round intermediate calculations. Round final answer to 2 decimal places, e.g. 15.25.) Number of periods 2 yearsYou are saving for a new car. You place $15,400 into an investment account today. How much will you have after four years if the account earns (a) 2%, (b) 4%, or (c) 6% compounded annually? Note: Use tables, Excel, or a financial calculator. Round your answers to 2 decimal places. (FV of $1, PV of $1, FVA of $1, and PVA of $1) a. b. C. Investment Amount $ 15,400 15,400 15,400 Interest Rate 2% 4% 6% Compounding Annually Annually Annually Period Invested 4 years 4 years 4 years $ Future Value 15,400.00